person-to-person payment

American  

[pur-suhn-tuh-pur-suhn pey-muhnt] / ˈpɜr sən təˈpɜr sən ˈpeɪ mənt /

noun

Digital Technology.

1. a transfer of funds directly from one person to another over the internet or a mobile phone network, often by means of an app. P2P

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Etymology

Origin of person-to-person payment

First recorded in 1995–2000

Example Sentences

See Examples For:

person-to-person payment

What do I need to know about person-to-person payment platforms like Zelle and Venmo?

From New York Times ● Jan. 7, 2024

Nearly 18 million Americans were defrauded through scams involving digital wallets and person-to-person payment apps in 2020, according to Javelin Strategy & Research, an industry consultant.

From New York Times ● Mar. 6, 2022

Ultimately, the best person-to-person payment app depends on what you use it for — and how much you care about digital privacy.

From Seattle Times ● Jul. 24, 2021

The PayPal person-to-person payment service, however, survived and did eventually move to the Web.

From New York Times ● Feb. 24, 2012

All of these interoperability issues aside, though, the person-to-person payment services still have ease-of-use challenges.

From New York Times ● Feb. 24, 2012